Vortex Gaming

Smilegate Group's 2023 performance was announced on the 15th. Smilegate Group refers to a number of affiliates centered on Smilegate Holdings, a holding company, including Smilegate RPG, the developer of 'Lost Ark', and Smilegate Entertainment, the developer of 'Crossfire'.

According to the consolidated audit report of Smilegate Holdings, the company's revenue in 2023 was ₩1.3 trillion, a 12% decrease compared to the previous year. Operating profit on the same basis decreased by 23% to ₩490.4 billion, and net profit increased by 1,244% from ₩63.3 billion in 2022 to ₩851.2 billion.

Smilegate Entertainment and Smilegate RPG are responsible for most of Smilegate Group's revenue. Smilegate Entertainment, the developer of 'Crossfire', saw a slight increase in revenue from ₩645.8 billion in 2022 to ₩667.1 billion in 2023, while Smilegate RPG's revenue decreased significantly. Smilegate RPG, the developer of 'Lost Ark', recorded ₩523.7 billion in revenue in 2023, a 28.9% decrease compared to the previous year. This accounts for 86% of Smilegate Group's revenue.

Smilegate Investment, a venture capital (VC) firm, recorded ₩33 billion in revenue and turned a profit of ₩7.3 billion from a loss of ₩8.2 billion in 2022. Major external investments included the acquisition of a 21.2% stake in AI asset management platform Qantic for ₩20 billion, as well as a 33.3% stake in new developer Control Nine for ₩25 billion, and a 23.2% stake in That's No Moon Entertainment for ₩12.8 billion, bringing its total stake to 41.2%.

Meanwhile, the reason for the significant increase in net profit despite no major changes in Smilegate Group's existing business appears to be due to Smilegate RPG's net profit turning a profit of ₩654.7 billion in 2023 from a loss of ₩142.6 billion in 2022.

Webzine Inven윤홍만 기자
2024-04-15